Kaltim Supacoal assets to be auctioned

Curators of PT Kaltim Supacoal, a joint venture between White Energy Company Ltd and Bayan Resources, which is now under the process of bankruptcy, is preparing the auction of the company?s assets.

Andry Krisna, one of the curators, said that the company?s assets would be auctioned through the government?s office for state assets and auction in East Kalimantan. ?The auction will be carried in East Kalimantan because the assets of the company are located in the province,? he added.

Kaltim Supacoal was declared bankrupt by the Surabaya commercial court in September, 2012 on the request of its business partner PT Petrolog Indah.

PT Kaltim Supacoal was engaged in production of coal briquette through an upgrading process in East Kalimantan. (*)